Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Operating Information for Reportable Segments

The following is a summary of certain operating information for reportable segments:


(In thousands)	Community Banking		Specialty Finance		Wealth Management		Total Operating Segments		Intersegment Eliminations		Consolidated
Three Months Ended March 31, 2025:
Interest income	$	768,968	$	101,698	$	5,531	$	876,197	$	10,768	$	886,965
Interest expense	349,957		10,391		143		360,491		—		360,491
Net interest income	419,011		91,307		5,388		515,706		10,768		526,474
Provision for credit losses	22,428		1,535		—		23,963		—		23,963
Non-interest income	73,493		31,039		33,790		138,322		(21,688)		116,634
Non-interest expense:
Salaries	98,586		15,762		9,104		123,452		465		123,917
Commissions and incentive compensation	32,137		9,041		11,358		52,536		—		52,536
Benefits	27,374		4,718		2,981		35,073		—		35,073
Other segment expenses(1)	132,490		23,445		10,014		165,949		(11,385)		154,564
Total non-interest expense	290,587		52,966		33,457		377,010		(10,920)		366,090
Income before taxes	179,489		67,845		5,721		253,055		—		253,055
Income tax expense	45,219		17,552		1,245		64,016		—		64,016
Net income	$	134,270	$	50,293	$	4,476	$	189,039	$	—	$	189,039
Total assets at period end	$	53,531,046	$	11,312,205	$	1,026,815	$	65,870,066	$	—	$	65,870,066
Three Months Ended March 31, 2024:
Interest income	$	691,897	$	95,144	$	8,003	$	795,044	$	10,469	$	805,513
Interest expense	328,212		12,862		245		341,319		—		341,319
Net interest income	363,685		82,282		7,758		453,725		10,469		464,194
Provision for credit losses	20,392		1,281		—		21,673		—		21,673
Non-interest income	74,636		27,317		58,485		160,438		(19,858)		140,580
Non-interest expense:
Salaries	86,682		14,538		10,442		111,662		510		112,172
Commissions and incentive compensation	29,781		8,639		12,581		51,001		—		51,001
Benefits	24,676		4,314		3,010		32,000		—		32,000
Other segment expenses(1)	116,601		22,781		8,489		147,871		(9,899)		137,972
Total non-interest expense	257,740		50,272		34,522		342,534		(9,389)		333,145
Income before taxes	160,189		58,046		31,721		249,956		—		249,956
Income tax expense	40,143		15,523		6,996		62,662		—		62,662
Net income	$	120,046	$	42,523	$	24,725	$	187,294	$	—	$	187,294
Total assets at period end	$	45,720,014	$	10,713,783	$	1,143,136	$	57,576,933	$	—	$	57,576,933

(1)Other segment items include non-interest expense categories such as ‘Software & Equipment’, ‘Data processing’, ‘Advertising and Marketing’, ‘FDIC Insurance’, and ‘Occupancy’. See “Non-Interest Expense” under Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 2 of this Form 10-Q for further discussion on non-interest expense.